America’s largest apparel retailer Gap Inc. (NYSE: GPS) recently announced that its Board of Directors has named Sonia Syngal, as the company’s next chief executive officer as the apparel retailer looks to reverse falling foot traffic and sales while it pivots to a new strategy, effective March 23. She will take over as board chairman from Bob Fisher, a son of the company’s founders.

Syngal, 49, became chief executive officer of Old Navy in 2016 and her previous roles embrace executive vice president for global supply chain and product operations at Gap Inc. She joins the small cohort of female CEOs running Fortune 500 companies, including Sun Microsystems where she led manufacturing operations, logistics and supply chain management, and held roles in product design, quality and manufacturing engineering at Ford Motor Co.

The San Francisco-based retailer also declared that Board member Bobby Martin will take the role of Executive Chairman, effective March 23. Martin has intensive expertise within the retail world, having served as president and CEO of Wal-Mart International, as a former director at Dillard’s Inc., and as a member of the Gap Inc. Board of Directors since 2002. His experiences will serve as a powerful accompaniment to Sonia’s, as they position the corporate to furnish value to customers, employees and shareholders.

“It’s an honour to build on this company’s rich heritage and lead our nearly 130,000 employees in transforming our business and operations to successfully compete in the future,” said Sonia. “I’m committed to fully realizing the potential of our portfolio and the advantage of our scale, with a focus on strengthening the love that our millions of customers have for our brands. To do that, we must better prioritize initiatives and capabilities that will improve execution and drive value creation.”